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Swedish business executive, best known as CEO and later Chairman of ABB, was arrested in London on Thursday on suspicions of committing sex crimes.

The 71-year-old Swede called the accusations "baseless".

"They come from a woman who is stalking me," he told the Expressen newspaper. "She's a crazy woman, but nothing to be concerned about."

"It's part of a campaign by a person who is out to get me. As a public figure, you have to deal with people who want money and influence."

Wall Street Journal reported that a spokesman for London's Metropolitan Police confirmed on Friday that "a 71-year-old man was arrested on the 28th of June by appointment." The spokesman said that the meeting was "in relation to allegations of sexual assault." The police spokesman declined to disclose the name of the man or specific details of the charges.

Percey Barnevik is well known as the one-time CEO of ABB. He now works on a variety of philanthropic endeavors, including the U.K.-registered charity Hand in Hand International, of which he is a founder. He was a board member at General Motors in the years before the auto maker's filing for bankruptcy protection.